The skies continue to darken over BlackBerry, which is scheduled to post third-quarter earnings later this week. The Wall Street Journal reported today that the company will soon say goodbye to two longtime executives (my colleague Lauren Hockenson takes a good look at the ongoing front-office transition here), and BGR picks up on a research note from Bernstein analyst Pierre Ferragu estimating that in the third quarter alone BlackBerry burned through $800 million — or 80 percent of the $1 billion Fairfax Financial invested just a few weeks ago to turn things around. It’s no surprise, then, that we’re seeing headlines predicting “the usual trainwreck” from the earnings report.

But Ferragu also estimates BlackBerry’s assets are worth between $6 billion and $13 billion. As BGR notes, that would make the company’s current market cap of roughly $3.2 billion far too low, so the company’s shares may be hitting rock bottom. Meanwhile, as The Globe and Mail reports, new executive chairman and interim CEO John Chen is expected to shed some light on his plans to turn the company around when the company posts quarterly earnings Friday. BlackBerry’s future may never have been so bleak, but the company is still far from dead.